News

Foresight News reported that according to monitoring by crypto analyst Ai Auntie @ai_9684 xtpa, PUMP price has reached a new high. The account "0 xtyle-imToken," ranked TOP 2 in Hyperliquid's 24-hour revenue leaderboard, currently holds a 5x leveraged PUMP long position with an unrealized profit of $7.365 million. This account holds 1.94 billion PUMP (approximately $14.63 million), making it the largest PUMP long position on the platform, with an entry price of $0.003737 and a total funding fee paid of $397,000. In addition, the account's positions in BTC, FARTCOIN, SOL, and kPEPE have a combined unrealized profit of $1.791 million, bringing the total unrealized profit of the account to $9.186 million.

Foresight News reported, according to The Block, that Nick Forster, co-founder of Derive, has proposed expanding the supply of the native DRV token of its on-chain options exchange in order to retain core contributors and secure deals with institutional partners. The proposal calls for minting 500 million DRV tokens, increasing its supply by 50%, and allocating these tokens to the Derive Foundation (which will be renamed the Lyra Foundation). Forster stated that, according to the proposal's estimates, existing holders' tokens would be diluted by a maximum of 8.25% per year over four years. As part of the proposal, Forster mentioned that Derive has "secured a significant partnership that will bring institutional-grade liquidity and custody services to the ecosystem," adding that the foundation "is in advanced negotiations with several of the largest liquidity providers and traders to introduce deeper liquidity and launch new product lines."